In business, strategy is everything. That being said, this does not remove certain challenges that impact our operations. Some may be rooted in the economy while others may be tied to circumstances of a regulatory nature.
Regardless of the why, the discerning entrepreneur rises to whatever problem or challenges surface.
A wonderful example might be something that affects care businesses when national and state economies are strong. That is recruiting and maintaining quality employees. Some of this is simply tied to the vast number of options prospective employees have. For some this makes recruitment tough and for others, it makes retention tough since some are more prone to quit instead of allowing themselves to be developed.
This applies in home care, assisted living, hospitals and other business models. How do we stay afloat amidst such a threat? The number one strategy is to examine the specific reasons the challenge exists and then work to manage that reason.
For example, in the care business, it may be that you have to allow the profit margins to take at least a slight hit which allows you to pay staff more than your closest competitors.
It might also mean you have to seek the kind of cases that are more profitable. In other arenas, a management team might add incentives from low priced leased vehicles to an extra vacation or sick day to compensated training.
Bottom-line is you have to face it before giving any thought to throwing in the towel. Under normal circumstances, quitting is not on the agenda of the progressive entrepreneur, but identifying solutions and executing them are on the agenda of every committed winner!
So have a seat, examine the challenge and press forward. In the end you will surely find life and business are better when you face it head-on!
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Another Blog Post from the minds of Direct Care Training & Resource Center, Inc. and its Chief Executive, Bruce W. McCollum. Join us for a monthly podcast, Direct Care Training & Resource Center on ITunes.
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Note: Direct Care Training & Resource Center, Inc. is a private organization that provides training and assistance to community care providers and prospective providers in matters of continuing education, business development assistance and general information workshops. We are not regulators. We do not seek to replace regulators. We are not competitors of regulators. Neither do we recommend a provider of care or prospective provider of care ignore the advice and direction of regulators. This is not our role. Additionally for those we assist with accreditation please remember this is a collaborative process that takes times. Step-by-step we will lead and require your input and cooperation. Many of our training workshops are approved as continuing education units for adult foster care group home licensees and administrators, personal care homes, adult family care homes and other assisted living models. As such, many of our training products do incorporate the review of regulatory statutes, administrative rules and laws that pertain to the provision of care, all of which is readily available to the general public. We are not a governmental entity and our programs must never be viewed as a replacement or substitute for State or federally sponsored orientations, licensing preparatory meetings or any other government sponsored or governmentally mandated educational event or training. Additionally, approval for continuing education courses does not in any way constitute a governmental endorsement of other services provided by our company or any of its affiliates. Furthermore, attendance at any of our live sessions, use of our self-study materials or online/virtual school and any technical assistance we may offer must never be viewed as a guarantee of potential business success, elimination of liability or specific financial gain. It is the responsibility of the individual business owner to work toward and create a pattern of success for his/her business entity. While we make a concerted effort to offer quality advice and teach providers the highest levels of quality customer service, clients must not look to our company to ensure they are successful as community-based care providers. We cannot guarantee how long it will take to attract clients or residents and we will not assure a particular lifestyle from your business efforts. Please note that licensed adult foster care group homes in Michigan who have contracts with community mental health agencies may be obligated to receive all direct care worker and medications training through that agency or the training organization they specify. Check with them before calling our company to enroll in training programs. 6% sales tax charged on all self-study products in the State of Michigan. Information provided in our workshops is up-to-date and accurate to the best of our knowledge and belief. Sample forms used in live training sessions and the online/virtual school may bear the name of certain waiver agents but must in no way be interpreted as an implied endorsement by any agency or governmental department. If a live class paid for is missed, no cash refunds will be made, however a credit will be issued allowing you to attend a comparable event within one year of payment.